(1) If the registration of a vehicle required to be registered under this article is procured or perfected by the owner, or by a person or agent in the owner's behalf, and the registration fee and specific ownership tax are paid by check, money order, draft, bill of exchange, or other negotiable instrument that is dishonored and not paid by the person upon whom drawn, the registration shall be revoked as soon as the dishonored or unpaid instrument is returned to the authorized agent. Upon the return of such check, money order, draft, bill of exchange, or other negotiable instrument to the authorized agent, evidencing nonpayment or dishonor of same, the authorized agent shall notify the owner in writing, at the address appearing on the person's ownership tax receipt, by registered or certified mail, of the revoked registration resulting from such nonpayment or dishonor. The notice shall request the return to the authorized agent of the tax receipt, license fee receipt, and registration number plates issued under such revoked registration within ten days after the date of mailing of the notice. (2) If the owner fails to return any requested documents or license plates to the authorized agent within a reasonable time, as specified by the authorized agent, after the date of mailing of the notice, the authorized agent may immediately repossess the tax receipt, license fee receipt, and license plates that were issued under the canceled registration, and the county sheriff or the Denver manager of safety, or an equivalent person in the city and county of Broomfield, upon request by an authorized agent, shall sequester or recover possession of the receipts and license plates within his or her jurisdiction. The sheriff, manager, or equivalent who has recovered possession of a receipt or license plate shall transfer the receipt or license plate to the authorized agent. An owner who attaches or uses license plates acquired under a canceled registration is subject to the penalties provided in section 42-3-121. (3) The authorized agent, upon accounting for repossessed plates, shall receive a refund of any sum paid over to the county treasurer, or such equivalent position in the city and county of Broomfield, or to the department, as provided by sections 42-3-304 to 42-3-306, in each case where an owner or the owner's agent has issued a check, money order, draft, bill of exchange, or other negotiable instrument that has been dishonored and not paid by the person upon whom drawn; and, likewise, the county treasurer, or such equivalent position in the city and county of Broomfield, and the department making such refund shall further effect appropriate refunds and deductions as may be necessary to adjust and balance the books and records of the county treasurer and the department after making the initial refund to the authorized agent.
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